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This Is Why Exxon Is So Happy About the Permian Basin

TheMotleyFool

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This Is Why Exxon Is So Happy About the Permian Basin: https://g.foolcdn.com/editorial/images/749643/21_05_18-a-person-in-protective-gear-with-oil-wells-in-the-background-_gettyimages-1210681471.jpg

ExxonMobil (NYSE: XOM) is one of the largest oil and natural gas companies in the world. It has long been hailed as an industry leader, particularly when it comes to execution. When it comes to more traditional wells, the company's skill has been built over time. It's starting to build its skills and differentiate itself in the onshore U.S. energy market.

Exxon is currently at the top of the heap when it comes to return on capital employed (ROCE). This is a metric that basically looks at how well a company is using shareholders' money. As the chart below shows, Exxon's ROCE is nearly 25% today. The next-closest direct peer is just shy of 21%.